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ABC
Dec 27, 2012 5:00pm PST
disease that makes his legs immobile. >> congress cutting it close to avid the fiscal cliff. nation back into another recession, today, name calling picked up. boehner for letting lawmaker goes on vacation. house members not due back ununtil sunday. that is two days before the tax increases take affect. boehner is putting the ball in the court and says the house will take action on whatever the senate can pass. the president has spoken to senate and house leaders from both parties but had no plans to meet with congressional leaders tonight or tomorrow. >> three people have filed a federal lawsuit against city of san francisco arks kusing the police department of conducting illegal searches. this occurred at the henry hotel. saying police officers entered room was a master key provided by the hotel, then, began searching through personal belongings without warrants or just cause. thist@2p is camera footage of te searches by public defender last year. the suit filed by civil rights attorney john buress naming four officers. >> a slew of new laws set to hit the books january 1 from new rule
ABC
Dec 28, 2012 4:30am PST
fiscal cliff deadline rapidly approaching. congress is cutting it close to avoid the fiscal cliff yesterday senate majority leader harry reid blasted speaker boehner for letting lawmakers go on vacation. house makers are not due back until sun -- house lawmakers are not due back until sunday. boehner said the house will take action on whatever the senate can pass. >>> all the early season rain and snow we've been getting has water experts optimistic about california's water supply. the storms have replenished many reservoirs snow has increased snow back to nearly 150% of normal. >> partial supply in the barn either in reservoir storm or snow pack. however, it still depends on the remainder of the season 2/3 of the wet season is still let. >> snow pack runoff normally provides cal with a third of its water supply. >>> more -- more water on the way. >> this storm is so close to the coast it probably won't get snow in the sierra. good morning. because the storm is so close to the coast we have a high surf advisory be detail out there, dangerous rip currents as the storm passes today
ABC
Dec 28, 2012 6:00pm EST
did not make any new offers. congress should least extend tax cuts for everyone making $250,000 or less, and extend long-term unemployment benefits. democrats said have enough votes in the house and senate to pass the president also version of a short-term plan, but it is up to republicans in the house to call a vote. >> in the case of the speaker, i don't refuse to hold a vote per one of the key players, chris van halle, ranking democrat and house budget committee says he understands the public frustration -- hollen, ranking democrat and house budget committee, says he understands the public frustration. today the house speaker said he will not call for any votes until the senate has voted. possible new year's eve a vote on monday. mitch mcconnell went to the senate floor and said his hopeful and optimistic. those are two words we have not heard much of in the past couple of weeks. everyone hoping there will be a deal before january 1. rebecca cooper, abc 7 news. >> we will continue to follow the fiscal cliff negotiations and any new developments to come. for more coverage, what w
CBS
Dec 28, 2012 4:00am EST
congress can get a deal done before tax hikes and spending cuts kick in january 1st. >> i am not optimistic. >> reporter: even congressional leaders are cemental. >> the american people have a right to be very upset with this congress. >> reporter: president obama invited pelosi, john boehner and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year. and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to slow the progress. the senate will be
CNN
Dec 28, 2012 8:00am PST
businesses. >> it starts more than a decade ago when president bush initiated a series of tax cuts for all americans. but it's a deal with with the devil. the cuts, which are politically expedient but costly to government, expire in ten year's time. >> both houses of congress have passed tax relief that will protect the middle class. >> when it came time for the cuts to expire, the u.s. was emerging from the worst recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extended by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job killing tax hikes and we need to start cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls on government to
MSNBC
Dec 28, 2012 12:00pm PST
of the plan "b." gone back to plan "a," a bill passed by the congress and extending tax cuts for everyone and sent to the senate. they don't expect the senate to take that. use that as a legislative vehicle and what's today? saturday. new year's eve is -- sorry. today's friday. too much holiday cheer. but come on. i mean -- >> he will be working the weekend. >> reporter: i am. oh my god. i don't want to get started on that. but anyway, you know, there's a lot at stake here. and, you know, it is late for this kind of thing to go on. and really, steve, i know you have been on board for this last several days, as well. most logical thing and perverse logic and chamber politics, any way to look at it is most logical thing is to go over and then come back to vote to cut taxes. but hey, you know, pride goeth before the fall. they could come up with a miraculous recovery. some sort of immaculate deal and may actually spur some conversations on the margins and maybe get to a voint where they can do something to avert, at least patch this to avaert total economic disaster. >> sounds like
ABC
Dec 28, 2012 5:00am PST
meet with top congressional leaders in the oval office.pu÷]h congress is doubt -- is cutting it dangerously close. yesterday harry reid blasted house speaker boehner for letting lawmakers go on vacation house members are not dueyed4 back until sunday. boehner put the ball in the senate's core. p in a conference call with republicans boehner said the house will take action on whatever the senate can pass. >>> apple's customer satisfaction ratings are dropping. >> retail industry is keeping"g÷ a close eye on port along the east coast.&ú8uq here's ellen with the bloomberg business report. >>> christmas tree and lights may still be up, retailers are gearing up for spring it is their most lucrative time of the year as customers stock+g5 possible strike looming at more than a dozen ports 15,000 workers potentially ready to walk off the job, cuts off apparel makers a lot at stake so many chains get their shipments from overseas. apple may be a favorite among consumers but not customer satisfaction with the website. research finding apple's customer satisfaction dropping from last ye
ABC
Dec 28, 2012 6:30am EST
the first order of duty for the new congress would be to pass tax cuts and, of course, that's politically favorable so that may be the political game that a lot of lawmakers are playing here. but of course, everyone is on edge. no american wants their taxes to be increased and taxes are really the sticking point here. republicans fundamentally don't want to raise taxes on anyone but president obama is hoping that the bush tax cuts will beextended except for those making $250,000 or more and republicans say no way. clearly both sides are not coming together on anything any time soon. >> all right and the beat goes on. sandra endo in dc thanks so much for the time. >>> news time is #:32. -- 6:32. the debate over whether teachers should be able to bring guns to school got more heated. 200 teachers from utah packed the conference room and learned how to carry a concealed weapon on the job. and how to protect their schools from an armed intruder. >> the safety is the biggest part. and to be able to use them appropriately is really high priority for me. >> utah is one of the few sta
CBS
Dec 28, 2012 4:00am PST
. >>> and president obama meets with congressional leaders this afternoon at the white house to try to cut a deal to avoid the so-called fiscal cliff. in just four days across-the-board spending cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. perhaps $6 per gallon. at issue is the farm bill and how much the federal government pays farmers. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. that has dad sean rasmussen worried. >> they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation government prices revert back to 1939 levels. back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk would be far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old f
MSNBC
Dec 28, 2012 9:00am PST
automatic arbitrary spending cuts supposed to motivate congress tone act some kind of comprehensive budget reform. it hasn't worked out had a way. we are now four days away if the fiscal curb. this is the first time all of the congressional leaders met with the president since november 16 in a post-election session. and new this morning, cnbc's john heart swood reporting a mini deal could be in the works. without it like a 60 to 90-day deal and include some tax raises basically for those making about $400 $400,000 or more. this morning a few senators in both parties struck a hopeful tone about the meetings. >> getting a little more optimistic today. >> i think that it is encouraging that people are talking. >> talk is good but on substance, little has changed. >> problem has not been democrats being willing to do cuts. the problem is receive gnaws. we believe this isn't a revenue issue. this is a spending issue. >> house republicans also called their members back to washington for work this sunday. that was after democrats blasted speaker boehner for their absence just yesterday. >>
CBS
Dec 28, 2012 6:00am EST
when the big tax increases and spending cuts are scheduled to kick in. the fiscal cliff of course. president obama and congress got back to work yesterday trying to find a deal to avid the cliff. there were signs of hope and signs of discouragement as both sides agreed to talk but again, both sides blaming each other for the stalemate. the president will host a summit at the white house today. tara mergener is on capitol hill with more. >> reporter: the fiscal cliff is still a few days away. but business owner don says he's already feeling the impact. >> a lot of our customers are holding back. they're apprehensive. they are not committing to projects. they're not -- you know they're waiting to see that's going to happen with the fiscal cliff. >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1st. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner,
FOX Business
Dec 28, 2012 6:00pm EST
congress. they were the ones who extended the bush tax cuts. originally passed back in 20,122,010 and 2012. for two years now, they have known the issue is looming and they chose to do nothing about it at all. but that is not the only thing that this lame-duck congress has to do for the end of the year. the farm bill passed last summer to help farmers hit by the drought has to be extended. into the next year, it must pass. if they do nothing, a gallon of milk go up $6 a gallon. it sure isn't going to help consumers. then there are restrictions on u.s. exporters, lower tariffs in good deal for them. awaiting the attention of lawmakers and again, they are not even paying any attention. and today, they are threatening to do something with the hurricane sandy relief bill. the hurry up and get it done attitude of small-business owners. a 9-foot wave of flood water hit her store. she has picked up the pieces and opened her doors for business. despite losing all her equipment and furnishings, her insurance denied her claim and she got no help from the government. take a look at this. they go
CBS
Dec 28, 2012 4:30am PST
." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in
FOX
Dec 28, 2012 4:25am EST
, the milk cliff. it is part of a stalled farm bill with as much as $35 billion in cuts. if the bill doesn't make it through congress before the end of the year, the government will be forced to buy vast quantities of milk under a truman era law that could send consumer milk has high as $6 to $8 a gallon because the government would be forced to pay twice the rate under the 1949 rules. fomples are would sell their milk to the government first prompting a shortage in supplies which would spike the price consumers pay. >> the farm bill is like this low hanging ornament on the congressional christmas tree that, if they just embrace, it they can automatically come up with tens of billions ever dollars in budget savings. >> reporter: the problem is the bill is stuck in the house and there appears to be no political will to move it forward. agriculture secretary tom vilsack says out of precaution, his department is preparing for the law to take effect. >> this is a bad outcome. let me be very clear about this. i don't think we should want nor should we advocate for nor should congress cons
CNN
Dec 28, 2012 6:00am PST
two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extending by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job-killing tax hikes and we need to start it cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls on government to be as small as possible. its roots are as old as american, but the main spokesman is this man, grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbids them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy tactics
NBC
Dec 28, 2012 4:30am EST
congress. a deal at this point would probably extend bush era tax cuts for most americans and raise taxes on the country's top earners. it could also include an extension of long-term unemployment benefits, spending cuts would also be postponed. house speaker john boehner will be at the meeting today. the house will convene for a rare sunday evening session. house majority leader eric cantor says the house could be in session until january 2nd, the day before the new congress is sworn in. boehner, meanwhile, maintains that it's up to the senate to act first. >>> millions of americans may watch the ball drop new year's eve in times square, but a group of democrats is organizing its own ball drop on capitol hill. they'll launch their countdown today. their ball represents republicans dropping the ball on middle class families should lawmakers fail to reach a deal to avoid the fiscal cliff. >>> new this morning, iran's state television is reporting the country's navy started training drills in the strait of hormuz. that area sees 20% of the oil pass through it. the state tv report says
FOX News
Dec 28, 2012 3:00pm PST
dramatic spending cuts until next year. >> i asked leaders of congress to work toward the package to prevent tax hike on middle class americans protects unemployment surance for 2 million americans. lays the groundwork for work on growth and deficit reduction. that is an achievable goal. >> today's meeting is the first with the president since november 16. sign for republicans that mr. obama has not really been pushing that hard for a deal. >> we need presidential leadership on in the just taxing rich people. >> three words the president did not use. he did not use the word sequester and he didn't say "debt ceiling" either. he focused most of his remarx on preventing taxes from going up. there are also massive spending cuts coming. no idea how they will avert that. he also did not mention the debt ceiling. earlier they wanted lifting the debt ceiling included. now it's clear it's not in the short-term package that guarantees if they get a short-term deal here, we have major budget battles coming. >> the key to any good negotiation each side has to give up something. near and dear to
FOX News
Dec 28, 2012 6:00am PST
spending cuts depend how long they are in place into the new year before congress finally fixes this fiscal cliff problem. gregg: molly henneberg. these cuts were never expected to be enacted, were they? >> reporter: right, during the budget battle of 2011, remember that super committee they were trying to find sending cuts during that time. these spending cuts were put in as an unthinkable trigger to force lawmakers to find a which too cut spending. >> they make it particularly unplatte hratable, they wanted it to come out of the budget. they thought it was too harsh, the secretary of defense said it would hollow out the military. we face the possibility now that it will hop. >> reporter: the only way to aeu sroeutd cutto avoid these cuts implemented is for the congress to act before the new year. gregg: i want to know whose idea it was. it came from the white house according to bob woodward "the pricef politics" the proposal was presented on behalf of the president. it's interesting that now he is struggling to try to deal with his own proposal. >> reporter: and time is running sho
ABC
Dec 28, 2012 4:00am PST
public. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of
FOX News
Dec 27, 2012 11:00pm PST
under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off strong, coming off the supporters, sticking to his position that he pledged to them with the campaign promises. what looks like house in disarray is boehner's ho
CSPAN
Dec 28, 2012 2:00pm EST
thing you know, he's a lame duck president. if we cut a deal and move on and he brings congress with him, we will see a new political atmosphere in washington. at this point it seems like more of the same. host: from facebook -- guest: one thing i a lot about yesterday was this is really raising the question of canada to be cut? is it politically possible in this environment to get enough republicans and democrats to support a deal that the white house wants on deficit reduction? because they been to the altar so many times on this same issue, taxes, medicare, social security, defense spending, you must wonder, if there's any agreement possible. host: first, commented today from the senate republican leader mitch mcconnell, who will join his colleagues later today at the white house. [video clip] >> i told the president last night we would be happy to look at whatever he proposes. the truth is we are coming up against a hard deadline. as i said, this is a conversation we should have had months ago. republicans are not about to write a blank check or anything senate democrats before o
CBS
Dec 28, 2012 6:00am PST
: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-a
PBS
Dec 27, 2012 6:30pm PST
is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock on effects for the global economy. the pressure is on in washington to agree on a plan. only then might the applause on wall street be a little more genuine. >> with the clock ticking ever more loudly in washington, let's bring in our correspondent. first off, are the prospects of an agreement as dim as we are hearing, or could there be a last-minute deal? then of course this could happen, but i think it is quite unlikely. there is an increased pessimism that a deal can be
FOX News
Dec 27, 2012 8:00pm PST
. so say that the senate hasn't approved spending cuts in the last congress is not true. the problem is this and i feel bad for john boehner if you were obama you don't know who to negotiate with. even with john boehner were to come to obama with a deal, john boehner is being held host and by members of his own caucus who won't let him do that. boehner can work with democrats to get it passnd and throw some of his support with the democrats to get it passed but the problem for john boehner is he has an election coming up for his own leadership position on january 3 and he is afraid to do that. >> laura: again, and i understand why julie is saying this because the republicans don't have a ton of leverage here, stephen. >> they don't. >> they have very little leverage. >> all of the taxes go up, lawyer, a as you know, on january 2. >> is it that bad for president obama if we go over the cliff, oh, throw the nation into recession and lose all these jobs but he views everything through a political lens does he not? >> he does. >> laura: i think they made the calculation this won't hurt them
CNN
Dec 28, 2012 1:00pm PST
president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extended by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job killing tax sites and stop spending now. >> republicans refused to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. its roots are as old as american politics but today the philosophy's main spokesman is this man. grover norquist. president of american's for tax reform. norquist's pledge signed by almost all republicans by congress forbids raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand that the government reduce its deficit as a condition for raising the debt ceiling. both democrats and republicans e
CSPAN
Dec 28, 2012 12:00pm EST
less tax revenue for the government. so i would urge congress to vote for keeping the tax cuts in place especially for the middle class approaching the fiscal crisis when it comes to the taxes to go ahead and eliminate those tax benefits for the wealthiest individuals. i think if we all get it we try to consider what is going to work for the rest of the company we need to look at what is going to happen with consumer demand and consumer demand is in the middle class and the 98% to muster out there and we are the ones that are driving the economy and it requires a strong consumer sentiment and requires strong business and the emerging congress to take action, stop playing games and let's move on. thank you degette [applause] >> thank you so much. so wonderful to have a sensible message from small business who know what makes our country work and what our economy is all about. and now i'm really honored to introduce to you susan and her daughter teresa who works at the community college, is the mother in maryland, and she is going to talk about the reality that she experiences both
FOX
Dec 28, 2012 12:00pm PST
a new furlough warning went out to federal workers, deep spending cuts and tax hikes go into effect for every 1 on new year's eve if congress doesn't take action. kyla campbell, ktvu channel 2 news. >> thanks, if the president and congress are not able to avoid the fiscal cliff experts say people here in california will be hit especially hard because prop 30 voted into law in november will mean higher sales taxes and income taxes on the state's top earners. the fiscal cliff would add to that, hitting all americans with higher taxes. >> i don't know there is a word to describe how pissed the public is going to be, nobody going to be happy to see that happen. >> if taxes go up on everybody it is not going to be a happy time but i think that is inevitably what is going to happen. >> the tax policy center says the lowest income people will shrink over 3%, average owners 4% and top earns about six%, secretary of state hillary clinton is expected to return to work next week, a spokesman for her says she continues to recuperate at home and well resume her work schedule next week. doctors s
KOFY
Dec 28, 2012 11:30am PST
billion dollars in government spending cuts are set to take effect. what happens january 1st, is less than certain. if congress and the president miss the deadline investors could panic sending the shakey stock market into a downward spiral. businesses and consumers could lose confidence and cutback on spending. a recession would not be immediate as long as all parties are working on a deal taxes and cuts could be kept at bay for a few weeks and repealed retroactively. if they never agree taxes would go up $2400 for families. americans would feel cuts to government services and an estimated 3 boy 4 million jobs would be -- 3.4 million jobs would be lost. while the political blame game continues. >> we are here in washington, working. while the members of house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> i toe the president we'll be happy to look at whatever he proposes. but the truth is we are coming up against a hard deadline and as i said this is a conversation we should have had
CBS
Dec 28, 2012 6:30pm EST
end of a holiday week, but it would appear congress is just getting started. tonight, the president said he is mottestly optimistic about a deal to avoid the fiscal cliff, which would mean avoiding automatic tax increases and spending cuts come, you know, 1. the president spoke to the nation this evening after an hour-long meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxs. we have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight that were not clear this morning-- progress is real and if a deal is reached, it will be far smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not the so-called grand bargain with trillions of dollars of deficit reduction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-bo
FOX Business
Dec 28, 2012 11:00am EST
the can to next year and congress can work on larger spending cuts and a larger tax overhaul and that is something the president alluded to on friday asking congress to extend unemployment benefits and get a deal on tax rates. the president wants tax rate increase on amounts of $250,000 a year. the latest republican proposal was $1 million a year. the president and republicans before their talks broke off were $400,000 for family filing for a tax increase of amounts of $400,000 a year so there is some history of a compromise amount on taxes. the senate is working on unrelated legislation, the house comes in sunday afternoon holding an unrelated vote sunday night. that is unless the white house, president and folks in congress come to an agreement, if they were to reach an agreement, that they are there yet and have a smaller package, kick the can to next year, where in theory they get something to kick it again. dennis: let us pray, thank you, rich edson. why does washington always wait until the last panic stricken second before rival sides hammered out a compromise. juan willia
ABC
Dec 28, 2012 11:00am PST
billion dollars in government spending cuts are set to take effect. what happens january 1st, is less than certain. if congress and the president miss the deadline investors could panic sending the shakey stock market into a downward spiral. businesses and consumers could lose confidence and cutback on spending. a recession would not be immediate as long as all parties are working on a deal taxes and cuts could be kept at bay for a few weeks and repealed retroactively. if they never agree taxes would go up $2400 for families. americans would feel cuts to government services and an estimated 3 boy 4 million jobs would be -- 3.4 million jobs would be lost. while the political blame game continues. >> we are here in washington, working. while the members of house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> i toe the president we'll be happy to look at whatever he proposes. but the truth is we are coming up against a hard deadline and as i said this is a conversation we should hav
CSPAN
Dec 28, 2012 7:00am EST
congress. the american people have spoken. they want the crisis solved. if you want to cut out all social programs, they are getting the benefit of the situation. this is what they wanted. . the american people do not want that. host: are you listening on c- span radio? caller: yes. host: good morning, jim. caller: i'm calling from georgetown, texas. senator schumer proposed a $1 million cut off. reid and durbin did not go along with that. no entitlement cuts and we have $16 chilean debt and everybody -- $16 trillion debt and everybody keeps spending. don't we have to pay this debt down? host: the debt is $16.3 tr illion. another looming deadline. the treasury department can extend the deadline for the next month or two. part of the dynamics in the negotiations. front page of "the washington times." is the brink" cutline. host: harry reid had this to say on the senate floor. [video clip] >> the american people do not understand. the house is operating without the house of representatives. it is being operated with a dictatorship by the speaker. if the $250,000 would be brought woul
ABC
Dec 28, 2012 6:00am EST
upset with this congress. >> the fiscal cliff will bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes will plunged the u.s. back into recession. one possible effect of the fiscal cliff, milk prices could buy $2 or $3 a gallon because farm programs expire at the end of the year. some are calling that dairy cliff. correct the fiscal cliff is not the only potential economic hazard on the horizon. thousands of workers at the port of baltimore and 14 of reports from boston to houston are threatened to go on strike this sunday. those ports move about 40% of the nation's container cargo traffic. the economic damage would reach well beyond the docks. >> from your mom-and-pop retailers to the farmers to the trucking companies will have to go pick up the containers at the ports. this will be felt not just at the ports locally, but nationwide everybody is on the ports to move their comrades. >> a major sticking point is the future royalties that the companies pay the longshoremen who moved the
KRON
Dec 27, 2012 5:00pm PST
congress does not reach a fiscal deal before monday's deadline, automatic tax increases and steep spending cuts will take effect. an in depth look at where everything stands right now -- and we'll be talking live with our political analyst -- tonight at 5:30 >> breaking news. retired general norman schwarzkopf has died in tampa, florida. known as 'stormin norman' because of his explosive temper, he commanded the u.s.-led international coalition that drove saddam hussein's forces out of kuwait in 19-91. he lived in retirement in tampa, where he had served in his last military assignment as commander-in- chief of u-s central command. that is the headquarters responsible for u.s. military and security concerns in nearly 20 countries. he was 78. no one was hurt. storm on the way. >> borrowers, that took out a loan. could possibly have found some issues. dan kerman turks of the story from there. >> reporter: many feeble and up in a storefront office, with a quick loan, like here. many -- people will end up in a storefront, like this. dan kerman takes the story from there. >> the legal
KRON
Dec 27, 2012 11:00pm PST
lawmakers are going to be able to cut taxes. elisabeth corridon.. awarding. >> both obama and the senate returned to washington today after a christmas break. house leaders announced the chamber would reconvene sunday and possibly stay in session until a new congress is sworn in january third. someone hacked into her the san francisco muni service will be free this friday to celebrate muni's 100 years of service. and 100 years of customer support. all buses.including light rail lines and cable cars will be free from 5 a-m friday through 5 a-m saturday muni officials initially considered charging a five cent fare.the price riders paid a century ago. but ride free instead. muni service will also be between 8 p.m. monday through 6 a.m. tuesday. >> jacqueline: it was dry but the rain fall overturns. with mostly clear skies and colder temperatures. for rainfall-will return clouds increasing. the lingering towards a saturday. as we take a look on futurecast we already see the increase with clouds but the revolt was not arrive until later here comes the cold front by 6:00 on friday it will push
ABC
Dec 28, 2012 6:00am PST
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisc
CBS
Dec 28, 2012 1:35am EST
republican hands. the american people have spoken. >> if there is no deal income tax cuts and payroll tax cuts are scheduled to expire at the end of the year. 2 million jobless americans lose their unemployment benefits. the president and congress impressional leaders from both parties are scheduled to meat at the white house at 3:00 tomorrow to try to find some way out of this mess. they have met at the white house before to try to find some way out of this mess, and every single time they did that, they did not find a way out of this mess. if past is prologue, derek, get out your wallet. >> well, gary, as the mess, as you describe it, looms closer and closer, what do you really want to know about this fiscal cliff? join us tomorrow for 9news at 5:00. we'll have an expert here to begin to answer your questions which, of course, are more and more relevant. >>> after a hyattsville man tried to take his own life, a calm and cool 911 dispatcher, a mother's prayer on facebook and the power of love and friendship seemed to reach out and save him. tonight, david dawson wants to help others
CBS
Dec 27, 2012 5:00pm PST
admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put for
LINKTV
Dec 28, 2012 3:00pm PST
now!" >> there is no justification to cut security benefits. no to throwing seniors of the fiscal cliff. no to a cat food christmas. >> as president obama meets with congressional leaders at the white house, we speak outgoing democratic congress member dennis kucinich about the so- called fiscal cliff and a bill to continue the controversial domestic surveillance program. then, will the government -- of nerve north carolina pardon the wilmington 10? >> it is not a secret an injustice has been done. now, governor perdue has an opportunity to right the wrong. we cannot go back to 1980. this is 2012. >> the north carolina governor is being urged to pardon a group of civil rights activists were falsely convicted and imprisoned 40 years ago for the firebombing of a white owned grocery store. the conviction was overturned in 1980, but the state has never pardon them. we will speak with one of the wilmington 10 who served eight years behind bars and it became head of the naacp. all of that and more coming up. this is "democracy now!," democracynow.org, the war and peace report. i'm amy g
FOX
Dec 28, 2012 6:00am EST
includes nearlyy35-billioo- dollars in cuts. f the bill doesn't make it throuuh congress before the end of the year... the government will be forced tt buu vast quuntities of milk under a trummnnera law. that could send as 6 to 8 dollars ggllon... because the government would the wholeeale rate... under a pre-filed bill in the general assembly... is looking to make soft-shell crab... the official maryyand sannwicc.the senator richard colburn... an eastern shore republican.so dessert.in 2008... lawmakers passed llgislatiin tt make smith islann cake... a &pmulti-layered cake... the throw awaa the locks.... now the doorr will remain open all the timm at maryland casinos. so how uch more money will it the state? ptate? oel d. smith is see what the casino is expecting. joel, how busy is it? 3 3 3 the new year's eve ball haa been installed at times square... and preparaaions aae uuderway foo the big night.the ball... which has 288 crystal panels... will drop downna 141-foot-tall flaggole... to usser in the new year. the theme "let thhre be peace."" billion people across the world arr expected to
FOX Business
Dec 28, 2012 5:00pm EST
getting a pay cut if they treat medicare patients and extending patch for alternative minimum tax to insure 10 of millions of americans don't have to pay the amt for this year, that is something congress typically does at the end of every year. it is not honest budgeting in washington. these are ideas that have come about basically as democrats and republican haves to throw the spending together at the end of every year. adam: we have about a minute before the president will start speaking the spending cuts that are on the table, there are a lot of people say that is enough to put the economy into recession. is that going to keep the democrats from possibly approving this deal? >> depends on the spending cuts. right now you're talking about $94 billion in what is known as the sequester. that is just for next year alone. automatic spending cuts to have to defense, half into other domestic discretionary spending. that combined with the tax increases yes, the con aggressional budget office says yes enough to put us into recession. adam: very quickly, what do you expect to hear from the
ABC
Dec 28, 2012 6:30pm EST
programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. >> reporter: aftereeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spen
CBS
Dec 27, 2012 5:30pm PST
gallons of milk a week. if congress fails to pass a farm bill, they may end up spending an extra $120 a month on milk. that has dad sean rasmussen worried. >> we will not cut back on milk. they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation, government price supports for milk will revert to 1949 levels. back then, the process was more laborious, and farmers needed a higher subsidy to cover their costs. dan summer, professor of agricultural economics at the university of california davis, says the new price of milk will be far above what it now costs dairy farmers to produce it. >> it really will be just chaos. nobody really knows how to act. >> reporter: so we would go back to this old farm bill, which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> here's the problem for dairy farmers: they don't want chaos in the milk market. it sounds good-- "gee, everybody will double or triple the price"-- but how much milk would people buy at that price?
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